Scentre Group (OTCMKTS:STGPF) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 22,900 shares, a decline of 87.7% from the September 15th total of 185,900 shares. Based on an average daily trading volume, of 2,000 shares, the days-to-cover ratio is presently 11.5 days.
Scentre Group stock remained flat at $$2.08 during trading on Thursday. Scentre Group has a one year low of $1.50 and a one year high of $2.25. The business’s 50 day simple moving average is $1.95 and its 200 day simple moving average is $2.05.
Separately, JPMorgan Chase & Co. upgraded shares of Scentre Group from a “neutral” rating to an “overweight” rating and set a $3.20 target price for the company in a report on Wednesday, August 25th.
Scentre Group engages in the ownership and operation of pre-eminent shopping center in Australia and New Zealand. It operates through the Property Investments, and Property Management and Construction segments. The Property Investment segment includes net property income from shopping centers. The Property Management and Construction segment refers to the external fee income from third parties, primarily property management and development fees, and associated business expenses.
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